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Reward points and miles can accrue easily, but they can disappear easily, too [AP]

Friday, April 9, 2010 - 7:50 AM
From AP via Boston.com
What isn’t advertised is that banks can strip away those rewards for any number of reasons: You made a late payment, or your account was inactive for too long. The rules vary wildly. You may not even notice your points are disappearing if you’re not looking.
1
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,743
1. Friday, April 9, 2010 - 10:12 PM
Citibank gave me 40,000 ThankYou points for opening a savings account.  (To add to the ThankYou points I earn from several Citi credit cards.)  I met all the requirements for earning the points - a certain amount on deposit and direct-deposit for a short period.)  When the interest rate went to near-zero about 18 months later, I closed the account.  A couple months later, I noticed that my point balance was several thousand points lower than I expected.  Several phone calls later, I found the person at Citi who told me that the points were taken away because I closed the bank account.  This person could not explain the specific number of points that were taken from me, and could not provide any fine print that said they could do this, because there wasn't any.  I cashed in all my remaining points before they could subtract any more.
1
AnonymousAnonymous2,281 posts since
May 9, 2010
Rep Points: 3,788
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